XYO Network – A Service System for Oracles

Nowadays, the technologies of block-chain, the need for oracle services, and trustless smart contracts which arbitrate a contract’s outcome have grown quickly. Most latest smart contracts’ implementations depend on an aggregated or single set of oracle’s authoritative to make the result of the contract. In certain case, it is sufficient where both parties are able to agree on the incorruptibility or authority of the certain oracle. However, it is not like that in many cases. There are many cases which either an oracle cannot be counted as authoritative or the appropriate oracle cannot be found because of the possibility of corruption or error.

About XYO

We would like to introduce you one of the best networks using cryptocoin especially Bitcoin to overcome problems related to oracles. XYO Network has main aim to form a decentralized, trustless system of a location oracles which is resistant to any problem and produces the maximum certainty possibility when require for available data. This network will accomplish this through an abstraction set that bigly reduces the problems and the risk of spoofing location through a chain of knowledge of zero alongside the system’s components.

Network

The system of XYO provides an entry point into connected device with a protocol that has high accuracy on location data through a chain of proofs cryptographic. Users of XYO network can issue queries or transaction in order to retrieve the blockchain platform of a piece of location using functionality of smart contract. Inside the system, there are aggregators. Aggregators from the network of XYO will listen to the those queries that already issued to the smart contracts and record the answers that have the maximum accuracy from a set of device that has been decentralized that depend on proofs of cryptographic back up to these aggregators. After that, these aggregators will feed those answers back into the contract once they reach a consensus on the answer with the maximum score. The components of this network can make the possibility to define whether an object is at a certain XY-coordinate in specified time with the most trustless, provable feed.

Tokens

In XYO network, they use tokens to incentivize what people wants in reliable, accuracy location. The tokens of XYO can be thought as a fresh air that is needed for many people in order to interface with the real world especially when they need to verify the coordinate of XY of a certain object. The public sale of token has a fix and fair structure which starts from 100,000 XYO for 1 ETH and maximum currency at 33,333 XYO for 1 ETH. The details related to their time and volume based structure of pricing will be released soon.

The token in XYO Network is called as XYO. The platform of smart contract uses Ethereum. The type of the contract uses ERC20. The detail name of the token is called as XYO Network Utility Token with the address at 0x55296f69f40ea6d20e478533c15a6b08b654e758. The issuance total for the token is capped and finite at the total reached after the sale of the main token.